Alibaba, MegaFon, and RDIF will set up a joint venture on the basis of AliExpress

Moscow. September 11. INTERFAX.RU – the Russian direct investment Fund (RDIF), Alibaba Group , OJSC “MegaFon” and Mail.Ru Group announced a strategic partnership, under which the joint venture will be established in the field of e-commerce.

The partnership will be formed a joint venture, built in particular on the current business, AliExpress in Russia, the report said RDIF.

Alibaba Group will do business, AliExpress in Russia, part of a new joint venture, which also will include the business of international e-Commerce platform AliExpress Russian and B2C site Tmall. In the future, Alibaba Group will invest money and other resources in the venture to maintain its activities.

RDIF will become a strategic member of AliExpress Russia, acquiring a share of 13% through capital investments and acquisition of additional shares of SP at Alibaba.

“MegaFon” Alibaba Group sell its 10% stake in Mail.Ru Group in exchange for 24% of AliExpress in Russia. Mail.Ru SP will give your ecommerce business Pandao, cash, as well as the distribution format integration products Mail.Ru Group. The company’s share of AliExpress Russia will be 15%.

AliExpress and Mail.Ru will sign an agreement on strategic cooperation, which implies, among other things, traffic and product initiatives.

In the framework of the JV is to expand the ecosystem, and possibilities of everyday use of the service by investing in other businesses, together with Mail.Ru Group, including FoodTech and other areas, the report says.

After the completion of the transactions conditions to closing of the transaction and the agreement by all the partners in the venture, the owners of AliExpress Russia will become a of Alibaba Group (48%), MegaFon (24%), Mail.Ru Group (15%) and RDIF (13%). The joint venture will be implemented in all segments of e-Commerce, including cross-border and local marketplace, as well as through its own direct sales.

It is expected that the transaction will be closed in the first quarter of 2019.

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